To: HerbVic who wrote (2 ) 2/21/1999 1:58:00 AM From: neverenough Respond to of 14
WHAT IS WARREN BUYING DEPARTMENT We've always wanted to know what Warren Buffett is buying. Why? Because he has one of the greatest track records in history. We remember when his stock hit $20,000 a share a few years ago. Now it's in the $70,000 range (BRKA). So when the news hit that he is buying some new shares, we thought you would be interested too. He has an 8% stake in TCA CABLE (TCAT). TCA develops, operates, acquires and manages cable TV systems. TCA is also a cable advertising insertion provider and has begun offering high-speed Internet access in Texas. Price is $44; PE is 52; high-low is 45-21; Yield - .7%; Market cap - $2.25 billion. Last Q revenues were $107 million, up from $80 million – 33%. Earnings - $12 million (11% after tax); 24 cents a share. Analysts are looking for 98 cents in 1999 and $1.14 in 2000 and 25% growth per year for the next five years. Buffett raised his stake in MGI PROPERTIES (MGI) to 8.3% from 5.1%. MGI is a real estate investment trust that owns and operates a diversified portfolio consisting of 58 commercial properties and five multifamily residential properties located in New England, the Mid-Atlantic states, the Midwest and the Southeast. Price is $28; PE is 13; high-low is 30-22; Yield – 4.70%; Market cap - $400 million. Last Q revenues were $107 million, up from $80 million – 33%. Earnings - $30 million - $2.12 for fiscal 1998. 41% owned by institutions. Analysts are looking for 98 cents in 1999 and $1.14 in 2000 and 25% growth per year for the next five years. So there you have it. If you've always wanted to invest like Warren does, here's your chance. No Internet stocks in his portfolio - just value, return on assets and more value!